Former assisted living CEO indicted on Ponzi scheme charges

The former CEO of an assisted living chain has been indicted on charges of running a Ponzi scheme that defrauded more than a thousand investors out of $130 million.

Jon Michael Harder, 47, who had been the CEO of the assisted living chain Sunwest Management until 2009, surrendered to Oregon law enforcement officials on Thursday. He had been indicted on 56 counts of mail fraud, wire fraud, money laundering and other charges, the Associated Press reported.

About 60,000 elderly or disabled Medicaid recipients in Louisiana are being told they should expect to lose their benefits in July, and advocates say more than a quarter of them could be forced out of the long-term care facilities they call home.